Adventure Tourism Market 2023-2030: Size, Industry Share, and Growth Forecast
Companies covered in the adventure tourism market are Austin Adventures, Inc., Intrepid Group, ltd., Butterfield & Robinson Inc., G Adventures, Tui Group, Geographic Expeditions Inc., Row Adventures, Mountain Travel Sobek, Cox & Kings Ltd., Discovery Nomads and more players profiled.
Adventure Tourism Market
Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) — The global adventure tourism industry represents a form of traveling to exotic and remote places for the natural environment, cultural immersion, physical activities, etc. It generally involves climbing, cycling, caving, hiking, hunting, rafting, etc. Adventure tourism encourages travelers to interact with the local people and connect with their core values in the process. Furthermore, it offers economical and effective incentives to enhance biocultural diversity while generating financial benefits for private and domestic industries. Presently, adventure tourism is gaining widespread traction over conventional mass tourism as it supports economies, is resilient, encourages sustainable practices, etc.
The study analyzes market share, emerging trends, and regional forecasts for 2023 and beyond, enabling businesses to make informed decisions based on a solid understanding of the adventure tourism market landscape. Armed with this information, companies can strategically plan their expansion, implement aggressive business practices, and harness the market’s potential for sustainable growth.
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Prominent Leaders in the Adventure Tourism Market are:
- Austin Adventures, Inc.
- Intrepid Group, ltd.
- Butterfield & Robinson Inc.
- G Adventures
- Tui Group
- Geographic Expeditions Inc.
- Row Adventures
- Mountain Travel Sobek
- Cox & Kings Ltd.
- Discovery Nomads
Report Scope & Segmentation:
|Historical Year||2019 – 2021|
|Forecast Year||2023 – 2030|
|Segments Covered||By End-Use and Regional|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2023 to 2030|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World|
|Countries Covered||Austin Adventures, Inc., Intrepid Group, ltd., Butterfield & Robinson Inc., G Adventures, Tui Group, Geographic Expeditions Inc., Row Adventures, Mountain Travel Sobek, Cox & Kings Ltd., Discovery Nomads|
Browse Detailed Summary of Research Report:
The research highlights the market’s growth potential and development strategies. Through an examination of key dynamics, leading players, and industry revenue, their experts have provided valuable insights to assist market participants in successful ventures. Furthermore, the research explores market share, upcoming trends, and regional forecasts for 2023 and beyond, empowering businesses to make well-informed decisions based on a solid understanding of the Adventure Tourism Market landscape. Armed with this information, companies can strategically plan their expansion, implement robust business practices, and leverage the market’s potential for sustainable growth.
Key Drivers of the Adventure Tourism Market:
- Increasing Demand for Unique Experiences: Travelers are seeking unique and thrilling experiences, driving the growth of adventure tourism as it offers activities like trekking, mountain biking, and wildlife safaris.
- Growing Awareness of Sustainable Tourism: Eco-conscious travelers are opting for adventure tourism, which often aligns with sustainable and eco-friendly practices, reducing the negative impact on the environment.
- Rising Disposable Income: As disposable income levels rise globally, more individuals can afford adventure trips, contributing to the market’s expansion.
- Advancements in Transportation: Improved accessibility to remote adventure destinations through better transportation infrastructure and options like low-cost airlines has made adventure travel more accessible.
- Digital Marketing and Online Booking: Online platforms and digital marketing have made it easier for adventure tour operators to reach a wider audience and facilitate convenient booking, boosting market growth.
- Preference for Active Lifestyles: The trend towards healthier and more active lifestyles has driven interest in adventure tourism, as it aligns with the desire for physical challenges and outdoor activities.
Adventure Tourism Market Segmentation:
By Age Group
- 20-30 Years
- 30-40 Years
- 40-50 Years
- 50 above
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, Spain, Italy, U.K., and the Rest of Europe)
- Asia Pacific (India, China, Japan, Australia, and the Rest of APAC)
- Middle East & Africa (UAE, South Africa, and the Rest of MEA)
- South America (Brazil, Argentina, and the Rest of South America)
Europe is expected to dominate the global adventure tourism market because of the rising disposable income and high government involvement in supporting tourism. European countries with high tourist attractions, such as London, Amsterdam, Rome, and others, initiate more European travellers.
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Competitive Landscape of the Adventure Tourism Market:
The Adventure Tourism Market features a competitive landscape characterized by a mix of established players and emerging contenders. Key elements shaping the competitive dynamics include:
- Leading Adventure Tour Operators: Well-established adventure tour operators such as TUI Group, Intrepid Travel, and G Adventures hold significant market share. They offer a wide range of adventure packages and have extensive global reach.
- Specialized Niche Providers: Niche adventure tour operators focusing on specific activities like mountaineering, scuba diving, or wildlife safaris cater to enthusiasts seeking specialized experiences. Examples include Alpine Ascents International and Dive Worldwide.
- Local and Regional Operators: Local and regional operators play a vital role in promoting adventure tourism within specific destinations. They often have in-depth knowledge of local terrain and culture, providing authentic experiences.
- Online Travel Agencies (OTAs): OTAs like Expedia, Booking.com, and Airbnb have expanded into adventure travel, offering a diverse selection of adventure packages. Their wide customer base and user-friendly platforms enhance market reach.
- Adventure Equipment and Gear Manufacturers: Companies manufacturing adventure equipment and gear, such as The North Face, Patagonia, and Columbia Sportswear, contribute to the market by providing essential gear for adventure travelers.
- Technology and Booking Platforms: Technology-driven platforms and apps like TripAdvisor and Viator help travelers discover and book adventure experiences easily, further intensifying competition.
- Government and Destination Authorities: Government bodies and destination marketing organizations play a role by promoting adventure tourism through campaigns and investments in infrastructure development.
Key Industry Developments:
- January 2023: Austin Adventures Inc. announced special packages for families planning holidays in the U.S. with free visits to national parks, including adventure sports such as water activities trekking, and many others.
- December 2022: The Maharashtra government of India introduced Adventure Tourism Activities Policy for travellers across the globe. The new policy implementation is mandatory for all the camps, hotels, adventure companies, and other adventure activity conductors to follow the Directorate of Tourism (DoT) guidelines.
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